Banking

  Bloomberg UBS Group AG increased pay for junior bankers in the US for a second time in less than a year, bringing the Swiss lender in line with Wall Street rivals trying to stem defections amid a race for talent. UBS increased base salaries for first-year analysts to $110,000, according to a person familiar with the matter who asked ...

  Bloomberg The UK announced a plan for government oversight of stablecoins and said it would consult on regulating a wider set of cryptoasset activities, signalling engagement with an industry it has clashed with at times as digital assets gain mainstream appeal. The government will amend existing legislation for electronic payments to bring stablecoins — a form of cryptoasset that ...

  Bloomberg Pakistan’s top central banker pledged policy actions “on a timely basis” to ensure stability amid a political shakeup and deteriorating economy. The comments from State Bank of Pakistan Governor Reza Baqir come as lawmakers choose Shehbaz Sharif as prime minister after Imran Khan was ousted in a no-confidence vote. Khan’s downfall was accelerated by inflation running faster than ...

  Bloomberg Peru raised interest rates to a 13-year high to tame soaring inflation that has triggered mass unrest in recent days. The central bank lifted its key rate half a percentage point to 4.5%, its ninth straight hike, in line with analyst forecasts. “The significant rise in international prices of energy and food since the second half of last ...

  Bloomberg Societe Generale agreed to sell its Rosbank PJSC unit to the investment firm of Russia’s richest man, taking a hit of about $3.3 billion to exit the heavily sanctioned nation. The bank signed an accord to sell its entire stake in Rosbank and its Russian insurance subsidiaries to Vladimir Potanin’s Interros Capital. Despite the financial hit, SocGen said ...

  Bloomberg India’s central bank signalled a shift in policy focus as it ramped up efforts to mop up excess liquidity in the banking system and raised its inflation forecasts, sending bond yields higher. While the Reserve Bank of India’s (RBI) rate-setting panel decided to hold rates and keep its accommodative stance, it also voted unanimously to focus on “withdrawal ...

  Bloomberg BNP Paribas SA reached one of the most comprehensive work-from-home deals among major banks, with more than 132,000 employees given the option of doing their jobs from home for up to half the week. Staff in 22 countries across Europe can decide to work from home every week for as much as 2.5 days or to adopt a ...

  Bloomberg Credit Agricole SA acquired a minority stake in Italy’s Banco BPM SpA, in a deal that may spark speculation it is aiming for a full takeover. The French bank said it has built a 9.18% holding in Banco BPM. It’s not applied for authorization from regulators to increase its holding above 10%, according to a statement. Consolidation of ...

  Bloomberg Barclays Plc is developing a global private credit strategy, according to several people familiar with the situation, seeking to take part in the fast-growing $1.2 trillion asset class. The plans are at an early stage, and the details on exactly how Barclays will enter private credit are still under discussion, so the bank hasn’t reached out to external ...

  Bloomberg Citigroup Inc hired four more health-care investment bankers, doubling down on efforts to increase its market share in the sector. The hires were announced in a memo to staff from Chuck Adams, the global head of the health-care, consumer and wellness investment-banking group. Among the changes: Michael Brock, the former strategy officer at Acepodia, joined the bank last ...